Developer gets OK for third downtown Tuscaloosa project

By Jason MortonStaff Writer

Wednesday

Jan 30, 2013 at 12:01 AM

TUSCALOOSA | With a unanimous vote of approval by the City Council on Tuesday, an Atlanta-based company is proceeding with its third downtown development project within the past 12 months. This new, $11.5 million development by Chance Partners is expected to be a four-story building with townhome-style apartments, single-story apartments and retail space on the bottom floor. Construction is expected to begin on Monday and be complete July 31.

TUSCALOOSA | With a unanimous vote of approval by the City Council on Tuesday, an Atlanta-based company is proceeding with its third downtown development project within the past 12 months.This new, $11.5 million development by Chance Partners is expected to be a four-story building with townhome-style apartments, single-story apartments and retail space on the bottom floor.Construction is expected to begin on Monday and be complete July 31.With its location within the city's Downtown Overlay District, the City Council was required to give final approval to the plans, layout and materials that Chance Partners will use. Despite Mayor Walt Maddox's wish that the project, which has plans for 35 percent brick on the exterior, feature more brick in order to look more like downtown buildings, the project was met with no resistance.However, Christopher Kritzman of Chance Partners said the company is willing to consider the mayor's request.“We're certainly open to adding more brick,” Kritzman told the City Council. “We want to make certain that the projects we develop ... are properties you are proud of.”The project, tentatively named Green Bear because of its location, is planned for a 1.4-acre site at the intersection of Greensboro Avenue and Paul W. Bryant Drive. This is the former location of Mike & Ed's BBQ and the site of a proposed condominium project that never broke ground for construction.Councilman Bobby Howard, who represents District 1 where each of Chance Partners' projects have been developed, said he is hopeful that this new project will drive additional development into West Tuscaloosa.“I think it's wonderful,” said Howard of Chance Partners' third development. “We're slowing moving westward, and I look forward when we can cross Greensboro Avenue (with new developments).“This is the westward growth we have looked for and anticipated for years.”The development company's first foray into the Tuscaloosa market was announced in January 2011, when it gained approval from the City Council for construction of the $5 million Townhomes at Metal Works. This five-unit, 15-bedroom complex, built adjacent to the Metal Works Retail Center, where Jim ‘N Nicks Bar-B-Q is housed, is at 100 percent lease capacity for this and next year.The company's next project was the $8.25 million Boulevard Lofts, an 18-unit, 46-bed development that was approved for construction on the former parking lot across University Boulevard from City Hall in March. This mixed-use development, which has Which Wich Superior Sandwiches on the bottom floor, is also at full lease capacity for this year and the next, Kritzman said.Green Bear, with 50 units containing 119 beds along with 3,750 feet of retail space on the bottom floor, is part of Chance Partners' five-year plan to invest in Tuscaloosa. He explained that the company's philosophy did not favor a single development, but rather multiple developments based on the relationships the company makes within the community and City Hall.“We have a corporate mantra: Changing the world one building at a time,” Kritzman said. “We don't like to come into market, develop a 1,000-bed building and leave.”John McConnell, director of the city's planning and development services, said City Hall has been willing to work at the breakneck pace set by Chance Partners. This willingness to conduct inspections outside of the average workday or make additional efforts to not slow the project's development is part of the city's philosophy, but it's also a result of working with a quality developer on more than one occasion.“When you work with the same designer and developers over time, you learn how to work with each other,” McConnell said. “These guys have been real good to work with.”McConnell also said that Chance Partners' return for a third project is a reflection of the city's investments into the renewal of downtown Tuscaloosa.Since its beginning, city officials said a renewed downtown could be assisted by public funds, but it was private dollars that would make it complete.“They know the investments we've made downtown make it really attractive to people wanting to live downtown,” McConnell said. “But in a town like Tuscaloosa, there's always some apprehension to being the first one to step out and make a significant investment.“I think this group is taking those first steps and I believe others will follow.”Kritzman said it was clear to Chance Partners that the city's overhaul of its downtown area provided a solid foundation to private investment.“We're big believers in the downtown redevelopment and the downtown area. We think the city has done a great job of renewing this area,” Kritzman said. “We thought there was a fantastic base already in downtown Tuscaloosa, and we saw one key component that we thought was missing to having a vibrant downtown.” The component, Kritzman said, is a lack of nice, quality living spaces.And with the company's insistence on bringing condominium-style units — hardwood floors, elevated ceilings, stainless steel appliances — to the lease market, it has found the interest that it was hoping for.“We have a lot of interested folks who are looking to lease these spots,” Kritzman said. “And it's not just us, but the residents of Tuscaloosa as well, are realizing the transformation of downtown that's taking place and they want to be a part of it.”